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Mirasol Resources Provides Updates on Altazor and Gorbea Gold Projects, Chile
VANCOUVER, British Columbia, Aug. 18, 2021 (GLOBE NEWSWIRE) -- Mirasol Resources Ltd. (TSX-V: MRZ) (OTCPK: MRZLF) (the “Company” or “Mirasol”) today provides an
About this update from Mirasol Resources Ltd
[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 18, 2021 (GLOBE NEWSWIRE) -- Mirasol Resources Ltd. (TSX-V: MRZ) (OTCPK: MRZLF) (the “Company” or “Mirasol”) today provides an update on the Company’s Altazor and Gorbea projects, two high sulfidation epithermal (“HSE”) Au projects in Chile. At Altazor, Mirasol has received notice from Newcrest International Pty Ltd., a subsidiary of Newcrest Mining Ltd. (“Newcrest”) that it is terminating the Option and Farm-in Agreement (the “Agreement”). However, Newcrest will continue exploring at Gorbea and is preparing for a drill program, with planned commencement in Q4 2021. Under the amendment announced on December 29, 2020 for Gorbea, Newcrest has to complete at least 2,000m of drilling before the end of 2021 and an additional 6,000m before the end of 2022. Mirasol’s President, Tim Heenan, commented: “Newcrest has made the decision to focus its exploration effort elsewhere in Chile, including at Gorbea. Newcrest has spent more than US$3M on the Altazor project and highly prospective drill ready targets have been identified, which now remain untested. Mirasol has commenced a detailed review of the Altazor exploration data and targets generated in order to assess its options to advance the project. We are continuing to engage with local stakeholders to be in position to drill the project during the upcoming field season either with a partner or as a self-funded project. Altazor has some of the most attractive drill targets in our portfolio.” Tim Heenan added: “We are extremely pleased that Newcrest remains committed to Gorbea where they are to complete at least 2,000m of drilling this year, which will include an initial drill test of the promising El Dorado Au target. The El Dorado project is located just 6 km to the southeast of the Atlas target and only separated by recent post mineralization mafic volcanics. Geological mapping and geophysical CSAMT resistivity anomalies at El Dorado have defined new and attractive targets.” Altazor Project: Altazor is a HSE Au project covering 33,000 ha and located in an underexplored section of the Mio-Pliocene age mineral belt. Altazor has favourable infrastructure situated just 20 km south of 345 kV powerlines that follow International Highway Route 23, a paved road connecting northern Chile and Argentina. The project is located at altitudes of between 4,000 and 5...